Economic world

• What is microfinance?

  Microfinance involves people in LICs receiving small loans from traditional banks.
• How do microfinance loans help individuals?

  They enable people to begin their own businesses.
• What is a potential limitation of microfinance loans?

  It is not clear they can reduce poverty at a large scale.
• What is foreign direct investment (FDI)?

  FDI is when one country develops infrastructure in another country.
• What are the benefits of foreign direct investment?

  It leads to better access to finance, technology, and expertise.
• What is a drawback of foreign direct investment?

  Investment can come with strings attached that countries will need to comply with.
• What is aid in the context of international development?

  Aid is given by one country to another as money or resources.
• What are some positive impacts of aid?

  It can improve literacy rates, build dams, and improve agriculture.
• What is a potential downside of aid?

  It can be wasted by corrupt governments or lead to dependency on aid.
• What is debt relief?

  Debt relief is when a country’s debt is cancelled or interest rates are lowered.
• What is a benefit of debt relief?

  It means more money can be spent on development.
• What is a drawback of debt relief?

  Locals might not always get a say in how the money is spent.
• What is fair trade?

  Fair trade ensures farmers get a fair price for their goods with social premium payments.
• What is a benefit of fair trade?

  Farmers are paid fairly so they can develop schools and health centres.
• What is a limitation of fair trade?

  Only a tiny proportion of the extra money reaches producers.
• What does technology refer to in the context of development?

  Technology includes tools, machines, and affordable equipment that improve quality of life.
• What is a benefit of technology in development?

  Renewable energy is less expensive and polluting.
• What is a drawback of technology in development?

  It requires initial investment and skills in operating technology.
• What are the attractions of Kenya to tourists?

  • Safari: grassland ecosystem with diverse wildlife
  • Climbing and walking Mt Kenya
  • National Park scenery
  • Culture: Masai Mara Tribe
  • Beaches: Mombasa
• What is the contribution of tourism to Kenya's economy?

  Tourism now contributes 12% of GDP and 10% of jobs.
• How many people are directly employed by tourism in Kenya?

  600,000 people are directly employed by tourism.
• What is the multiplier effect in tourism?

  Jobs from tourism lead to more money spent in shops and other businesses.
• How has Kenya's Human Development Index (HDI) changed over the past 20 years?

  Kenya’s HDI has risen from 0.45 to 0.55.
• What infrastructure improvements have been made in Kenya to support tourism?

  The government has invested in infrastructure, improving the airport and roads.
• What are some development problems associated with tourism in Kenya?

  Tourists do not always spend much money outside their resorts.
• What is Nigeria's location and importance in Africa?

  Nigeria is a NEE in West Africa and the most populous and economically powerful country in Africa.
• What has driven Nigeria's economic growth?

  Economic growth has been based on oil exports.
• What political changes have influenced Nigeria's development?

  Nigeria suffered instability with a civil war from 1967-1970, but became stable from 1999 with free elections.
• How has Nigeria's diversity affected its society?

  Nigeria's diversity has caused regional conflicts from groups such as Boko Haram.
• What is the role of TNCs in Nigeria's economy?

  TNCs such as Shell have increased employment and income in Nigeria.
• What is a drawback of TNCs operating in Nigeria?

  Profits from TNCs often move to HICs, and oil spills have damaged environments.
• How has Nigeria's relationship with China influenced its development?

  Nigeria has growing links with China, leading to huge investment in infrastructure.
• What are some environmental impacts of industry in Nigeria?

  Oil spills have devastated swamps, and toxic chemicals are discharged into open sewers.
• What is the impact of aid on Nigeria?

  Nigeria receives $5 billion per year in aid, improving health centres and providing anti-mosquito nets.
• What is a potential issue with aid in Nigeria?

  Some aid fails to reach the people who need it due to corruption.
• How has economic development affected life expectancy in Nigeria?

  Life expectancy has increased from 46 to 53 years.
• What percentage of Nigerians have access to safe water?

  64% of Nigerians have access to safe water.
• What is the UK's global economic status?

  The UK has one of the largest economies in the world.
• What are some causes of economic change in the UK?

  De-industrialisation and globalization have led to a decline in the UK’s industrial base.
• What has happened to the primary and tertiary industries in the UK?

  Numbers in primary and tertiary industries have stayed steady, while quaternary industries have increased.